Kinnevik Results Presentation Deck

Intro FINANCIAL REVIEW Investee (SEKm) Agreena Common Joint Academy Lunar Omnipresent Safetywing Town Hall Ventures III Transcarent Other Investments Teladoc Other Divestments Net Investments / (Divestments) Net Asset Value KINNEVIK Interim Report Q1 2022 Q1 2022 127 68 57 211 377 177 93 546 2 1 658 -986 -29 -1 015 643 Portfolio Overview Sustainability Capital Allocation Framework Over 2019-23, Kinnevik is aiming to systematically invest its capital under a capital allocation framework which entails: • Investing one-third of our capital into first round investments, and two-thirds of our capital into follow- on investments in the high-performing companies of our growth portfolio, on average per year. • Adding one or two international, later-stage compa- nies, and one or two Nordic earlier-stage companies on average per year. Distributing our capital evenly across our focus sectors. ● • Aiming to accrete 15-25 percent ownership stakes. • Targeting a portfolio of 30 companies, with a more even distribution of value across investments and sectors, as well as levels of risk and stages of maturity. Financial Statements Other During the first quarter, we invested a total of SEK 1.7bn into the private companies in our Growth Portfolio. SEK 0.4bn was deployed into our existing businesses, and our largest follow-on investment in the quarter was the SEK 211m invested into Lunar, in part financing the company's intended acquisition of Norwegian digital bank Instabank. SEK 93m was committed to Town Hall Ventures third fund, to further cement our partnership with Andy Slavitt and his team in US healthcare. New investments totalled SEK 1.2bn, and was deployed into four businesses - Transcarent, Glen Tullman's (the founder of Livongo) healthcare startup focusing on self-insured employ- ers; Omnipresent, the SaaS-based global employment partner business in the intersection of our enabler and human capital themes; SafetyWing, an early-stage Nordic-founded bet also fitting under our human capital umbrella; and Agreena, sup- porting the transition to regenerative agriculture practices th- rough the voluntary carbon market. We released SEK 1.0bn from our Growth Portfolio during the quarter, primarily from continued deallocation of capital out of our Teladoc investment. Notwithstanding the market volatility, we believe that main- taining our investment momentum and actively reallocating ca- pital is key to ensure our portfolio remains vibrant and dynamic as long as opportunities to back great founders and ideas arise. Therefore, in 2022 we expect to continue deploy around as much capital as we have averaged during the last three years, in the region of SEK 5bn. 20

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